During a Bloomberg
TV Monday, Asness said that investment success is the result
of finding a strategy that works and sticking with it through
thick and thin.

"I used to think being great at investing long-term was about
genius," Asness said.

"Genius is still good, but more and more I think it's about doing
something reasonable, that makes sense, and then sticking to it
with incredible fortitude through the tough times."

'Human phenomenal'

AQR managed $135.3 billion at the end of September,
according to the firm's website. The firm employs a
systematic approach, and looks to "identify long-term,
repeatable sources of expected returns grounded in sound economic
theory", according to the firm's website.

Asness cited a study analysts at his firm conducted on
the the 35-40 year performance of the "Oracle of Omaha" Warren
Buffett in the interview.

Warren
Buffett, chairman and CEO of Berkshire Hathaway, speaks at the
Fortune's Most Powerful Women's Summit in
WashingtonThomson
Reuters

"Of course they found he was fantastic — but not quite as
fantastic. His track record was phenomenal... but human
phenomenal," Asness said. "What was beyond human was him sticking
with it for 35 years and rarely, if ever, really retreating from
it."

"That was a nice little lesson that you have to be good,
even very good, but sticking with it and not getting distracted
is much more the job," Asness said.

Asness also had a reassuring note for investors more attuned to
long-term trades in a market that seems increasingly dominated by
firms obsessed with second-by-second swings.

"You get fired by those people," he said, referring to firms that
trade on the short-term data. "You find other people out there.
They invest with you, and then you do well."

"I think there are more investors, there are more institutions,
there are more individuals through their — either on their own or
through advisers who have a longer time horizon," Asness
said.